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Construction Equipment Market Competitive Analysis, Future Prospects And Forecast 2028
The construction equipment market is expected to grow from US$ 126,062.8 million in 2022 to US$ 223,451.1 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2022 to 2028.Various excavation duties, such as excavating and moving the ground, are carried out with earthmoving equipment. Earthmoving equipment are available in various shapes and sizes. They are mostly used for repairing, constructing, elevating, agricultural, and demolition purposes.
The List of Companies -Construction Equipment Market
Caterpillar Inc
CNH Industrial N.V.
Komatsu Ltd
Liebherr
Zoomlion Heavy Industry Science&Technology Co., Ltd.
J C Bamford Excavators Ltd. (JCB)
Deere & Company
AB Volvo
Hitachi Construction Machinery Co., Ltd.
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Economic activities across the world were considerably stifled due to the COVID-19 pandemic. There were huge investments in infrastructure during 2020-21, which provided momentum to the infrastructure industry growth. Infrastructure investments in electricity generation, national highway construction, railways, and shipping cargo propel the demand for construction equipment.
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In 2020, the COVID-19 pandemic hampered construction activities. As a result, construction equipment sales have decreased across the world. Infrastructure investments; residential, commercial, and industrial construction; underground and well construction; and institutional expenditure affect construction equipment manufacturers. The US, the UK, China, and India are among the countries that have been disproportionately affected.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Life Science, Technology, Healthcare, Manufacturing, Automotive and Defense, Food Beverages, Chemical etc.
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